Royale Energy, Inc. Announces Partnership with California Resources Production Corporation to Initiate Natural Gas Production from the CRC 4-1 Well
June 04, 2019 at 01:19 pm EDT
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Royale Energy, Inc. in partnership with California Resources Production Corporation (CRPC) has initiated natural gas production from the CRC 4-1 well at a stabilized production rate of 3,000,000 cubic ft. per day. The CRC RVGU 4-1 was drilled by Royale to a total depth of 7,400 ft. The open hole logs indicate 184 ft. of gas pay. The structure is located on a 50-acre closure/trap against the Midland Fault in Nortonville, Capay, Mokelumne and Bunker gas sands as delineated by well control and 3D seismic. It was initiated into production from the Mokelumne Bunker sand intervals. This is the third well drilled and completed by the joint Royale /CRC technical team under the 2019 Three-Year Drilling Participation Program. An additional 5 prospects, all defined by historic well data and 3D seismic, are expected to be drilled from June through October 2019. Royale is drilling in a trend of multi-BCF production wells. Royale Energy and its investors own a 60% working interest in CRC 4-1 at an 80% Net Revenue Interest, of which Royale owns approximately 36% working interest.
Royale Energy Funds, Inc. is an independent oil and gas producer. The Company also performs turnkey drilling operations. The Company owns wells and leases in various geological basins located primarily in California, Texas, Oklahoma, and Utah, and offers fractional working interests. The Company also owns an overriding royalty interest in discovery in Alaska. It usually sells a portion of the working interest in each well it drills or participates with third-party participants and retains a portion of the prospect for its own account. The Company generally sells working interests in its prospects to accredited investors in exempt securities offerings. The prospects are typically bundled into multi-well investments, which permit third-party investors to diversify their investments by investing in several wells at once instead of investing in single-well prospects. The Company owns an interest in approximately 70 producing oil and natural gas wells.
ROYALE ENERGY, INC. 
